HTC was once the name behind one in ten smartphones in the market, however, due to enormous competition from other smartphone makers like Apple, Samsung and Chinese smartphone giants, the company has seen a massive decline in market share and sales. The renowned company was on the path of making its name as one of the biggest smartphone giants in the world.
But, thanks to ramped up competition from other smartphone makers like Apple and Samsung, the company has now found themselves struggling as revenue and sales continue in a downward spiral.
Cavs owner Gilbert addresses LeBron's decision to leave
He will sign a 1-year, $4.5 million deal, a little bit more than he was set to make in IN, according to ESPN's Chris Haynes . LeBron James is to join the Los Angeles Lakers in a four-year deal worth $154m (£116m), his camp has announced .
HTC will be letting go of 1500 employees from its Taiwanese manufacturing division.
HTC claims that the company's workforce will be more effective after the reorganization and optimization, which is expected to be completed by September this year. After the upcoming round of layoffs, it will be cutting its total work force by nearly 20 percent.
Under the US$1.1 billion deal with Google, the USA tech giant took on half of HTC's research and development staff - about 2,000 people. HTC hopes that by doing this, the company would be able to turn a profit as it said it would by this year. The smartphone manufacturer employed 6,450 people as of June.